SBI Recruitment 2020. 3850 officer openings. More details can be found on the official website of the bank https://www.sbi.co.in/web/careers
The last date to fill the applications is August 16, 2020. Candidate with graduation or a similar degree is eligible. Also, the candidates will need to appear for an interview and will be selected based on that.
Selected candidates will join either of the following circles
3850 Circle Based Officer posts Gujarat-750 Posts Karnataka-750 Posts Madhya Pradesh-296 Posts Chhattisgarh-104 Posts Tamil Nadu-55 Posts Telangana-550 Posts Rajasthan 300-Posts Maharashtra (excluding Mumbai)-517 Posts Goa-33 Posts
Application Fee: A fee of Rs.750 is applicable for General candidates, but SC/ST candidates will have no fee
Important Dates to remember: Starting date to fill the application: July 27, 2020 Last Date: August 16, 2020
The corona pandemic has changed a lot about the working model in the country. Almost all the firms are adapting new work models in order to cope up with it. Recently, SBI says it has plans to adopt work from home model and save 1000 crore
The SBO chairman, Mr. Rajnish Kumar says that by adopting work from anywhere policy, the company is going to save about 1000 crore. This is in the form of cost-cutting and will help run the business in these times
He further adds that the bank is in a good position to tackle the challenges of coronavirus. During the video conference of the annual shareholder’s meeting, he says that SBI aims to focus on the reskilling of the workforce.
He also emphasizes the idea of moving the workforce from administrative roles to sales. He says that the bank wants to implement the Work-from-anywhere policy to improve the work-life balance of its employees.
SBI plans to hire 2000 people in the next 6 months to fill junior to mid-level executives. The banks look to capitalize on rural lending and fee-based businesses. The current peers of SBI are reluctant to grow in these areas.
SBI plans to create a new microfinance vertical. Employees with experience in rural and agricultural sectors will be appointed in that vertical. These appointments will be in sales and call centers and credit card businesses
An SBI official says that alongside the usual recruiting, the bank plans to add 400 more people in its newly formed financial inclusion vertical. He adds that these new people will have an agricultural and rural banking background.
At the beginning of June, SBI creates a new vertical just to focus on financial inclusion and micro-markets (FI&MM). Earlier, a few months ago, SBI lists SBI cards. There are plans to enhance this with the new growth plans. 1500 new people will be added to the sales and call center verticals
Some of them are mid-level employees. Junior people will be
working more on the street sales with salary ranging from Rs.15,000 to
Ideal candidates with MBA and graduation can apply for these roles. Also, candidates with only plus-two certification can apply, provided they have enough experience in this field
The previous year, SBI recruits 2000 officers and 8000 clerks across the country. Some of them are still set to join the bank.
How did the bank fare in the times of Corona?
Looks like the bank is not affected that much by the impact of Corona and actually showed improvement. In the Jan-Mar FY20 quarter, the bank reports a 71% reduction in the pre-tax profit, which is due to bad loan provisioning.
Vacancies at SBI for SO post. Interested candidates can apply on the official website SBI. The online mode of application starts from tomorrow, i.e June 23, 2020. The final date to submit the application is July 13th, 2020. So, apply before the deadline. A total of 105 vacancies were announced by SBI.
Various posts like Head, Central Research Team, Investment Officer, Project Development Manager, Relationship Manager, SME Credit Analyst, Product Manager, Manager, Faculty, Banking Supervisory Specialist, VP, Chief Manager, DM, and Data Protection Officer comes under Specialist Cadre Officers.
Head(Product,Investment,Research): Graduation/Post-graduation from reputed government university. The candidate should have a minimum of 12 years of experience.
Central Research Team (Portfolio Analysis & Data Analytics): Post-graduation/MBA/PGDM in the field of statistics from a reputed university. Candidate should have a minimum of 5 years of experience.
Central Research Team (Support) – Graduation or Post-graduation in Commerce/ Finance/ Economics/ Management/ Mathematics/ Statistics from Government recognized University or Institution. Candidate should have a minimum work experience of 3 years
Investment Officer – Graduation or Post-graduation from Government recognized University or Institution. Certification by NISM/CWM mandatory. The candidate should have a minimum of 5 years of experience as an investment officer/part of the product team in the Wealth Management organization.
SBI is revamping its work from home policy. Soon, SBI employees might work from anywhere. India’s largest bank is coping with the after-effects of the coronavirus. During the annual report, SBI says the focus of the bank in the coming days will be on business procedures and rapid adoption of digital technology
SBI believes that the current fiscal year will be challenging for the bank due to the corona outbreak. Also, the bank feels that they will be a change in the behavior of customers as well
Until now, only 21.8% of the overall customers have availed the moratorium. The bank achieved 98% branch operability and 91% alternate channel operability during the lockdown.
SBI has a Business Contingency plan(BCP) in place during emergency situations. BCP’s main task will be to assist the customers and also to support essential backend services. The entire world is moving towards a more robust work from home policy. To cope up with this, the bank is also planning to revamp it WFH policy
How does bank want to tackle this
The bank believes that technology and productivity tools are also in place to assist the employees to work from home efficiently. SBI believes that employees can choose to opt from Work from anywhere(WFA) with this technological help.
WFA has already been introduced in the foreign branches and soon it will be implemented in the domestic offices as well. SBI believes this move will reduce the operational costs for the bank by providing additional motivation and productivity to the employees
With the coronavirus, global manufacturing is disrupted. Many companies are looking to set up their branches in the country. This will be a great opportunity for banks.
For the FY19-20, SBI posts a net profit of Rs.14,488.11 crore which is higher than Rs.862.33 in FY19
The country’s largest lender, State Bank of India has opened a position to hire for CFO. With this, SBI has been the talk of the job industry right now and this also revived the situation in which the public sector employees will be paid less comparatively
The job advertisement that was posted on the SBI website says that the salary for the CFO position will be offered around Rs.75 lakhs to Rs.1 Crore as part of the annual compensation. This will be a three-year contract, according to the advertisement.
The salary offered for this role of CFO is higher than the salary of the chairman. In the annual report which says that the chairman Rajnish Kumar has received less than Rs.30 lakh in FY19. It was 29.5 lakhs. Comparatively, HDFC’s CEO received annual compensation of Rs.55 lakhs. The rest of the CEO’s belonging to the other private foreign banks have received much more.
The debate between the pay of private-sector employees and public sector employees has been going on for some years. Currently, the compensation of the executives will be decided between the members of the Indian banks Association and Trade Union Representatives for every 5 years.
Recently, while in a call with his analysts, Mr. Kumar of SBI was asked a question. The question is if SBI would cut pay for their employees. His reply was humourous, although that states the relatively low pay the public sector employees receive.
The CFO post of the SBI had been vacant since Prashant Kumar has resigned and moved to Yes Bank. The job notification says that the new CFO should be a Chartered Accountant with 15 years of experience in managing accounts and taxation with large institutions. Out of these 15 years, 10 years of experience should be with a bank/financial institution.
SBI Assam has issued a notification to fill various positions. Around 85 vacant positions are available. Job positions include Manager Facilitator, Channel Manager Supervisor, and Support Officer.
Details of the vacancies: Total number of posts available: 85 Salary: Rs.30,000 to 35,000 per month Job Location: Guwahati Last date to send applications: June 17, 2020 Age Limit: Candidate should be below 65 years of age
Interested candidates can send the applications to the following address STATE BANK OF INDIA, Local Head Office, Guwahati, Assam.
Candidates who are willing to apply can visit www.sbi.co.in for detailed information Find the link for SBI careers website here
The Reserve Bank of India has recently announced a 3-month debt moratorium due to the Coronavirus pandemic. It has been confirmed that SBI has enabled its customers to avail of this offer. Customers can choose to defer the payments for 3 months, but the interest will still be cumulated.
This 3-month moratorium is applicable to the car, home, personal, and other types of loans. Along with this, customers who took working capital facilities such as an overdraft or cash credit can apply for this moratorium.
A temporary suspension or postponement of loan payments is called Debt moratorium. After applying for this moratorium, all the payments during this period will be postponed. This moratorium will be from March 1 to May 31, 2020, according to the guidelines of RBI.
While the payments will be canceled, the interest will still be added to the payments. Hence, only take a moratorium if it is very necessary.
For the customers who do not wish to take the moratorium, the payments will happen as usual. But for whoever wants to the moratorium, follow these steps.
Yes Bank revival plan is finalized by the Reserve Bank of India. According to this plan, not only just capital but also funding lines will be finalized. This is to ensure that no liquidity issues should arise on raising the moratorium.
As part of this plan, the RBI will announce the details with SBI and other banks involving in the Yes bank. The banks will infuse Rs.20,000 crore into the Yes bank, within the 48 hours of this announcement. On the third day, the public sector banks are going to invest Rs.30,000 crores into the certificates of deposits of the bank. After this, the moratorium will be lifted on the 4th day.
Along with SBI, HDFC Bank, ICICI Bank, Kotak Bank are also planning to invest in the Yes Bank. Once all these banks agreed to invest, the RBI has finalized the revival plan for the Yes Bank. With this investment, the creditworthiness of the bank is going to increase which in turn will make easier for the other banks to lend.
After investing Rs.20,000 crore in the Yes Bank, the banks are going to receive a 75% share in the equity. This will lead to the reduction of the share of the existing shareholders to 25%.
On Wednesday, the share of Yes Bank is going at Rs.28 in the BSE, which is 28% above its recent close. In the current scenario, Yes Bank is valued at Rs.5,600 crore which is twice the amount announced by RBI as part of its revival plan.